Mirae Asset Global Investments Co. Ltd. Purchases 4,456 Shares of Extra Space Storage Inc. (NYSE:EXR)

Mirae Asset Global Investments Co. Ltd. grew its position in Extra Space Storage Inc. (NYSE:EXRGet Rating) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,214 shares of the real estate investment trust’s stock after purchasing an additional 4,456 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Extra Space Storage were worth $7,034,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Riverview Trust Co bought a new stake in shares of Extra Space Storage in the first quarter valued at about $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Extra Space Storage in the first quarter valued at about $55,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Extra Space Storage by 4,500.0% in the first quarter. Brown Brothers Harriman & Co. now owns 322 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 315 shares in the last quarter. Institutional & Family Asset Management LLC increased its position in shares of Extra Space Storage by 588.5% in the first quarter. Institutional & Family Asset Management LLC now owns 358 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 306 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Extra Space Storage by 35.2% in the first quarter. Geneos Wealth Management Inc. now owns 384 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 100 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $177.26 on Thursday. Extra Space Storage Inc. has a 12 month low of $156.70 and a 12 month high of $228.84. The stock’s 50 day moving average is $194.66 and its 200-day moving average is $189.36. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 2.48 and a beta of 0.48.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, September 14th. Extra Space Storage’s payout ratio is 90.36%.

Analysts Set New Price Targets

A number of research firms recently issued reports on EXR. Jefferies Financial Group lowered their target price on Extra Space Storage from $228.00 to $184.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. KeyCorp lifted their target price on Extra Space Storage from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, August 17th. Truist Financial lifted their target price on Extra Space Storage from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Citigroup lifted their target price on Extra Space Storage to $229.00 in a research report on Monday, August 22nd. Finally, Evercore ISI lowered their target price on Extra Space Storage from $201.00 to $196.00 and set an “in-line” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.91.

About Extra Space Storage

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Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.

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Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

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